0.707 = SQRT(2)^(-1), often happens in W1
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0.707 often happens in W2 i meant of cos, retrace of W1. Also i find this number often in triangle formations, most times in E
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Trade closed couse of stoploss with 35% loss.
I am flat now, just watching if a pattern can be identified
even If the dip last hour was a price revearsal Zone and it is AB=CD it can´t be a uptrend correction pattern by definition ( we have Lower Lows). Ether the dip formed W1 of a big Ending Diagonal, or less likely W3 of bearish Impulse. We don´t know.
I am flat now, just watching if a pattern can be identified
even If the dip last hour was a price revearsal Zone and it is AB=CD it can´t be a uptrend correction pattern by definition ( we have Lower Lows). Ether the dip formed W1 of a big Ending Diagonal, or less likely W3 of bearish Impulse. We don´t know.